What is P60? When your small business can get it and how to use it

Published Tuesday 23 December 2025

Table of contents

• When do you get a P60?
• What information is on a P60?
• What is a P60 used for?
• How do I get a P60?
• Difference between a P60 vs P45
• What to do if your P60 is wrong
• Do I need a P60 for my self assessment tax return?
• Managing your business finances
• P60s for employers
• FAQs on P60s

Key takeaways

• Recognize that your P60 is an essential annual tax document that summarizes your total pay, tax deductions, and National Insurance contributions for the entire tax year from each employer.

• Expect to receive your P60 by 31 May if you're employed on 5 April, and contact your employer immediately if you haven't received it by this deadline.

• Utilize your P60 as official proof of income for mortgage applications, loan requests, tax credits, and Self Assessment tax returns when you have multiple income sources.

• Prepare for digital tax changes by adopting MTD-compatible accounting software before April 2026 if you're self-employed earning over £50,000, as quarterly digital updates to HMRC will become mandatory.

When do you get a P60?

Your employer must give you a P60 for the tax year if you’re employed by them on 5 April. You should receive it shortly after the tax year ends; your employer must provide this by 31 May, either on paper or electronically. If you haven't received it by then, it's a good idea to check with your employer.

What information is on a P60?

Your P60 contains two main categories of information that prove your employment and tax status.

Personal details:

• Your full name
• Payroll number
• National Insurance number

Financial information:

• Total pay for the tax year
• Total tax deducted that year
• Your National Insurance contributions for the year
• Total pay from any previous employment
• Total tax deducted from any previous employment

If relevant, your P60 form also has details of Statutory Sick Pay and Maternity Pay, as well as Student Loan repayments. You'll find your final tax code for the year on it too.

What is a P60 used for?

A P60 serves as official proof of your annual income and tax payments. You'll need your P60 for these common situations:

• Mortgage applications: Lenders require income verification
• Loan applications: Banks need proof of earnings
• Tax credits: Means-tested benefits require income evidence
• Tax refunds: HMRC needs your payment history
• Self Assessment: You need it if you have multiple income sources and complete a Self Assessment tax return

How do I get a P60?

Getting your P60 is automatic if you're employed on the last day of the tax year (5 April).

Employer responsibility: Your employer must provide your P60 without you asking.

Timing: You'll receive it between 6 April and 31 May each year.

What to do if it's missing: Contact your employer immediately if you haven't received your P60 by 31 May.

Multiple P60s are common depending on your employment situation:

• Multiple jobs: You get separate P60s from each employer
• Umbrella companies: Your P60 comes directly from the umbrella company
• Job changes: Employers only provide P60s if you're still employed on 5 April
• Early leavers:You receive a P45 instead when you leave during the tax year

Your employer will issue your P60 either in paper or electronic format. Keep it safe, but if you lose it, you can see the information on it in your HMRC personal tax account.

Difference between a P60 vs P45

While both are important tax forms from your employer, they serve different purposes. A P45 is given to you when you leave a job, summarising your pay and tax up to your leaving date. A P60, on the other hand, is an annual summary of your pay and tax for the entire tax year from an employer you are still with on 5 April.

What to do if your P60 is wrong

Accuracy is critical because errors on your P60 can affect your tax obligations and refunds.

Check for errors immediately: Review all figures against your payslips and records.

Consequences of errors:

• Underpaid tax: You may face HMRC penalties
• Overpaid tax: You could be owed a refund

Next steps: Contact your employer immediately if you spot mistakes. They must issue a corrected P60.

Do I need a P60 for my self assessment tax return?

Yes, you need your P60 for self assessment if you have both employment and self-employment income.

Required documents for your tax return:

• P60 from your current employer
• P45s from any jobs you left during the tax year
• Records of your self-employment income and expenses

How are self assessment tax returns changing?

Self assessment is going digital through Making Tax Digital for Income Tax (MTD for IT), partly to help reduce the tax gap for Self Assessment businesses, which is estimated at £5 billion.

Key dates:

• April 2026: Self-employed earning over £50,000—a group expected to include around 780,000 people—must use MTD-compatible software
• April 2027: Threshold drops to £30,000

Requirements: You must keep digital records and send quarterly updates to HMRC using approved software like Xero.

As part of MTD for IT you'll need to send HMRC quarterly updates and a Final Declaration.

By the time self assessment goes digital in April 2026 you will need to have MTD-compatible software in place. Adopting cloud-based accounting software like Xero before the change can help the transition go smoothly.

Managing your business finances

Understanding your P60 is a key part of managing your finances, whether you're an employee with a side business or an employer managing payroll. With tools that simplify payroll and keep your financial records organised, you can run your business with confidence, not your books. Try Xero for free.

P60s for employers

Employers must provide P60s to all employees working on the last day of the tax year (5 April).

Your obligations:

• Who gets one: According to ACCA, you must provide a P60 to each employee on the payroll who is working for you on 5 April.
• Timing: Issue between 6 April and 31 May
• Format: Paper or electronic versions are acceptable

Who gets a P60?

Give a P60 to all employees on your payroll who are working for you on the last day of the tax year (5 April). If you run a limited company and draw a salary you'll need to issue yourself a P60.

How do I issue a P60?

Issuing P60s involves three simple steps when you use payroll software:

Step 1 - Generate: Your payroll software creates P60s automatically after the final pay period

Step 2 - Distribute: Provide copies to employees in paper or electronic format

Step 3 - Submit: Send copies to HMRC electronically (unless you're exempt from online filing)

Alternative: Order blank P60 forms from HMRC if you're exempt from online payroll filing.

What if there is a mistake on a P60?

If you notice an error on a P60, or your employee tells you something is wrong, you need to correct it and issue a replacement. Mark the new P60 clearly with 'replacement' or send a letter confirming the changes.

FAQs on P60s

Here are answers to some other common questions about P60s.

Do I get a P60 if I'm self-employed?

If you are only self-employed and do not receive a salary through PAYE, you won't get a P60. Your income and tax are declared through your Self Assessment tax return. However, if you are self-employed and also have a separate job where you're an employee, you will receive a P60 from that employer.

Can I get a copy of an old P60?

If you lose your P60, ask your employer for a replacement first. If they can't provide one, you can find the same information by logging into your personal tax account on the GOV.UK website.

Is a P60 the same as a payslip?

No, a payslip shows your pay and deductions for a specific pay period (like a week or month), while a P60 is a summary of your total pay and deductions for the entire tax year.